FCA has updated its webpage on SCA, to confirm its decision to extend the deadline for full SCA compliance for e-commerce transactions to 14 March 2022. However, it also stresses its expectation that if firms can apply SCA to e-commerce transactions now, they should be doing so.
It also explains that it has decided not to incorporate EBA’s view of “inherence” in its upcoming amended Approach document – and will explain why when publishing a summary of responses to its consultation later this year. Firms must ensure that any individual SCA inherence solution they use complies with, in particular, Article 8 of FCA’s technical standards for SCA.
FCA also encourages all firms to get involved in industry delivery plans.